Birdwatch Note Rating
2023-03-19 20:00:01 UTC - NOT_HELPFUL
Rated by Participant: ABC847F0A1B5A1E7E2FB2B7F857545B6E54AE5FBBECFA143509A3DF2E91C8B56
Participant Details
Original Note:
The 3% number Biden is referring to is based on a value increase of held investments (not on their income). However, these investments can also lose value which why they are taxed when sold and become income. Calculating on that, the avg tax rate for them is 25%, not 3. https://www.politifact.com/factchecks/2022/jul/13/joe-biden/joe-bidens-dubious-math-federal-income-tax-burden/
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